Industrial Logistics Properties Trust
NASDAQ:ILPT

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Industrial Logistics Properties Trust Logo
Industrial Logistics Properties Trust
NASDAQ:ILPT
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Price: 5.75 USD -3.04% Market Closed
Market Cap: 383.3m USD

Industrial Logistics Properties Trust
Investor Relations

Industrial Logistics Properties Trust is a real estate investment trust, which owns and leases industrial and logistics Properties. The company is headquartered in Newton, Massachusetts. The company went IPO on 2018-01-12. The firm owns and leases distribution and logistics properties throughout the United States that serve the needs of e-commerce. The company owns approximately 288 properties containing 34 million rentable square feet in 31 states, which are leased to approximately 259 different tenants. The 288 properties consisted of 226 buildings, leasable land parcels and easements containing approximately 16.7 million rentable square feet that are primarily industrial lands located on the island of Oahu, and 62 properties containing approximately 17.3 million rentable square feet that are industrial and logistics properties located in 30 other states. The firm operates in one business segment: ownership and leasing of properties that include industrial and logistics buildings and leased industrial lands. The firm is managed by The RMR Group, an alternative asset management company.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 29, 2025
AI Summary
Q3 2025

Strong Quarter: ILPT delivered solid Q3 results, with normalized FFO up 26% sequentially and 116% year-over-year, driven by refinancing and leasing activity.

Portfolio Metrics: Same-property cash basis NOI and occupancy rates remained strong, with occupancy at 94.1%, 150 basis points above the U.S. industrial average.

Leasing Momentum: Completed 836,000 square feet of leasing at rental rates 22% above previous levels, with renewals making up 70% of activity.

Guidance: Q4 normalized FFO is expected between $0.27 and $0.29 per share; guidance excludes incentive fees.

Balance Sheet Actions: Three properties totaling 867,000 square feet are held for sale, expected to bring in about $55 million, mostly from owner-users paying premium prices.

Debt Profile: No major maturities until 2029 except for one floating-rate JV loan due in 2027; net debt to assets decreased to 69.3%.

Leasing Pipeline: Over 8 million square feet in the leasing pipeline, with most negotiations for 2026-2027 expirations and anticipated roll-ups of 20% on the Mainland and 30% in Hawaii.

Key Financials
Normalized FFO
$17.4 million
Normalized FFO per share
$0.26
Same-property NOI
$86.4 million
Same-property cash basis NOI
$84.2 million
Adjusted EBITDAre
$84.1 million
Interest expense
$63.5 million
Occupancy
94.1%
Net debt to total assets ratio
69.3%
Net debt coverage ratio
12x
Cash on hand
$83 million
Restricted cash
$95 million
Earnings Call Recording
Other Earnings Calls

Management

Ms. Yael Duffy
President & COO
No Bio Available
Ms. Tiffany R. Sy CPA
CFO & Treasurer
No Bio Available
Mr. Matthew Paul Jordan CPA
Managing Trustee
No Bio Available
Stephen P. Colbert
Director of Investor Relations
No Bio Available
Ms. Jennifer Babbin Clark
Secretary
No Bio Available

Contacts

Address
MASSACHUSETTS
Newton
Two Newton Place, 255 Washington Street, Suite 300
Contacts
+16177968303.0
www.ilptreit.com